ServiceNow, Inc. (NYSE:NOW) Shares Bought by Abacus FCF Advisors LLC

Abacus FCF Advisors LLC lifted its holdings in ServiceNow, Inc. (NYSE:NOW - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,978 shares of the information technology services provider's stock after buying an additional 4,053 shares during the period. ServiceNow makes up 1.9% of Abacus FCF Advisors LLC's holdings, making the stock its 22nd biggest position. Abacus FCF Advisors LLC's holdings in ServiceNow were worth $11,925,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NOW. Vanguard Group Inc. raised its holdings in ServiceNow by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,199,258 shares of the information technology services provider's stock valued at $20,353,517,000 after acquiring an additional 190,430 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in ServiceNow by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,955,924 shares of the information technology services provider's stock worth $8,434,235,000 after acquiring an additional 509,467 shares in the last quarter. FMR LLC raised its stake in shares of ServiceNow by 4.9% during the 4th quarter. FMR LLC now owns 5,878,900 shares of the information technology services provider's stock worth $6,232,339,000 after buying an additional 272,506 shares during the last quarter. Geode Capital Management LLC increased its position in ServiceNow by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,312,571 shares of the information technology services provider's stock worth $4,560,890,000 after buying an additional 100,670 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of ServiceNow by 87,501.3% during the first quarter. GAMMA Investing LLC now owns 2,689,361 shares of the information technology services provider's stock valued at $2,141,108,000 after buying an additional 2,686,291 shares during the period. Institutional investors and hedge funds own 87.18% of the company's stock.

Insiders Place Their Bets

In other news, insider Jacqueline P. Canney sold 66 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $1,023.00, for a total transaction of $67,518.00. Following the sale, the insider now owns 3,027 shares of the company's stock, valued at approximately $3,096,621. This trade represents a 2.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anita M. Sands sold 428 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $1,013.61, for a total value of $433,825.08. Following the transaction, the director now owns 10,891 shares in the company, valued at $11,039,226.51. This represents a 3.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,716 shares of company stock valued at $6,611,245. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on ServiceNow from $1,100.00 to $1,150.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Canaccord Genuity Group reduced their price target on shares of ServiceNow from $1,275.00 to $900.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. William Blair reissued an "outperform" rating on shares of ServiceNow in a research note on Friday, March 7th. Guggenheim lifted their target price on shares of ServiceNow from $716.00 to $724.00 and gave the stock a "sell" rating in a research report on Thursday, April 24th. Finally, Truist Financial raised ServiceNow from a "hold" rating to a "buy" rating and increased their price objective for the stock from $950.00 to $1,200.00 in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,062.50.

ServiceNow Trading Down 0.6%

NOW stock traded down $6.13 during midday trading on Wednesday, reaching $1,003.66. 741,971 shares of the company traded hands, compared to its average volume of 1,482,236. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.10 and a current ratio of 1.10. The business has a 50 day moving average of $928.22 and a 200-day moving average of $974.13. The firm has a market capitalization of $207.74 billion, a price-to-earnings ratio of 146.95, a P/E/G ratio of 4.51 and a beta of 0.95. ServiceNow, Inc. has a 52-week low of $678.66 and a 52-week high of $1,198.09.

ServiceNow (NYSE:NOW - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The information technology services provider reported $4.04 earnings per share for the quarter, beating analysts' consensus estimates of $3.78 by $0.26. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.09 billion. ServiceNow had a net margin of 12.97% and a return on equity of 17.11%. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the business posted $3.41 EPS. As a group, sell-side analysts expect that ServiceNow, Inc. will post 8.93 earnings per share for the current fiscal year.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.